Detroit receives its first investment-grade rating from Moody's, upgrading its debt from Ba1 to Baa2.

Detroit, once bankrupt, receives its first investment-grade rating as Moody's upgrades the city's debt from Ba1 to Baa2. The credit rating firm cites the city's improving financial resiliency and solid operating performance. Detroit's tax base has doubled over the past five years and has gained momentum from projects such as blighted housing stock rehabilitation and balanced budgets.